Curaçao Gambling License Holders May Be Required to Maintain Offices and Staff on the Island

Curaçao has launched consultations on provisions of the National Ordinance for Games of Chance (LOK) regarding the physical presence of licensees on the island, regulatory consultant Aiden Short announced on LinkedIn. Over the coming weeks, stakeholders will be able to share their views on the proposed requirements.

Specifically, Article 5.12 of the LOK states that gambling operators licensed in Curaçao must:

• During the first four years of holding a license, employ at least one key individual who is physically based on the island, working full-time, and registered in the local population registry.
• From the fifth year onward, employ at least three key individuals on the island.
• Maintain property on the island with office space for conducting core business activities.

However, these requirements would not apply to licensees that meet the following criteria:

• The company was incorporated within 12 months prior to receiving a license.
• None of the licensee’s beneficiaries owned another gambling company in the past two years.
• In the year preceding the license, the company’s gross gaming revenue (GGR*) did not exceed 20 million Netherlands Antillean guilders (about $11 million).
• For the first three years after obtaining a license, annual GGR does not exceed 20 million guilders (about $11 million).

To demonstrate compliance, gambling companies will be required to submit reports to the Curaçao Gaming Control Board every six months.

Earlier, Gambling Park reported on operator BC.Game’s plans to reinstate its Curaçao license.

* Gross Gaming Revenue (GGR) is a financial metric used to assess gross income, calculated as the total amount wagered minus total winnings paid out.